Tennessee Funeral Service Laws Rules & Regulations (LRR) Practice Exam

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What does a trust instrument create?

A financial plan for estates
A written document that creates a trust
A legal notice for funeral services
A contract for pre-need services

The correct answer is: A written document that creates a trust

A trust instrument is fundamentally a written document that establishes a trust. This document outlines the terms and conditions of the trust, designates the trustee, and specifies the beneficiaries, as well as the assets that are to be managed within the trust. By creating this written instrument, the individual ensures that their intentions regarding the management and distribution of their assets after death are clearly articulated and legally enforceable. In the context of funeral services, while some forms of financial planning can include trusts for pre-need arrangements, a trust instrument specifically focuses on the legal relationship that governs the management of assets, rather than just creating a financial plan or serving as a contract. Additionally, a trust instrument does not serve as a legal notice nor is it simply a contract for funeral services, which would involve different legal frameworks and documents.